USD 417.48 Million
Report ID:
SQMIG30H2125 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
62
|Figures:
75
Global Mannitol Market size was valued at around USD 417.48 Million in 2022 and is expected to rise from USD 445.87 in 2023 to reach a value of USD 754.70 Million by 2031, at a CAGR of 6.8% over the forecast period (2024–2031).
The industry is expected to benefit from a growing population, a more dynamic lifestyle, and an increase in certain diseases across different geographies. This product is used as an excipient in the pharmaceutical business to develop pharmaceutical goods as well as to treat kidney, brain, and heart problems. Furthermore, it is employed as a bulking agent in tableting applications. Over the next eight years, such a tendency is expected to support mannitol market growth.
Growing population, dynamic lifestyle, and an increase in some diseases across different regions are expected to favorably affect the market. This product is used as an excipient in the pharmaceutical business to develop pharmaceutical products as well as to treat disorders of the kidney, brain, and heart. It is also utilized as a bulking agent in tableting applications. Such a trend is expected to assist mannitol market growth during the following eight years.
Manufacturers favor mannitol due to its high water solubility, low moldability, low sensitivity to humidity, and superior wetting qualities. Growing demand for confectionery and baked food products, as well as increased health consciousness among consumers in developing regions, are expected to support the market in the near future. Furthermore, due to its lower calorie content, mannitol is becoming more popular among diabetics. Chewable tablets or gums are especially important for geriatric and traveling patients who do not have easy access to water. The presence of mannitol in it causes a cooling sensation in the mouth. This element is expected to have a beneficial impact on overall market growth in the coming years.
Excessive ingestion of the product produces a laxative effect in humans, resulting in diarrhea. It is mostly deemed safe for use as a food additive with the E421 classification. Prices are now high due to its use in many applications, but they are predicted to fall over the next eight years due to its laxative function. Growing customer desire for sugar-free products as a result of health consciousness and changing lifestyles is also predicted to boost market demand. R&D initiatives are being undertaken to offer prospective applications without any mannitol side effects, which is projected to create several opportunities for industry partners across a wide range of healthcare applications.
Recent technological advances are being made to synthesize mannitol using less expensive raw materials. Production utilizing lactic acid bacteria is being innovated, which is predicted to boost yield while maintaining high purity quality.
US Mannitol Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 417.48 Million
Largest Segment
Food Additive
Fastest Growth
Food Additive
Growth Rate
6.8% CAGR
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Global Mannitol Market is segmented based on Form, Application and region. Based on Form, the market is segmented into Powder and Granules. Based on Application the market is segmented into Food Grade, Pharmaceuticals, Industrial, Surfactants and Others. Based on region the global Mannitol Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Mannitol Market Analysis by Application
Food additives, medicines, industrial, surfactants, and other applications are among the most common. Surimi and cosmetics are two further applications. Mannitol is used as a drug adulterant in heroin, cocaine, and methamphetamines. Furthermore, mannitol can be employed as a compound with boric acid, which allows for greater precision in volumetric analysis of the acid as well as an increase in acid strength.
Food additive application accounted for more than 35% of the total market and emerged as the market leader. The increased demand for food grade applications is mostly due to changing consumer preferences to participate in diet and lifestyle management, which has resulted in a higher demand mannitol market.
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Asia Pacific led the global mannitol market, accounting for more than half of the overall market. Emerging markets like China and India accounted for a large share of the total market. Consumption in the regional market has increased as a result of rising consumer health consciousness. Diabetes is becoming more common in China as a result of the country's changing lifestyle and socioeconomic level, and this trend is expected to continue for the next eight years. However, two types of diabetes must be addressed immediately: obesity and cardiovascular disease. These factors are anticipated to increase market demand over the next eight years.
Europe is predicted to be the fastest growing region in terms of mannitol market growth, owing to expanding R&D activities and rising demand from the region's numerous end-user industries.
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Mannitol Market Drivers
Increasing Prevalence of Chronic Diseases
Mannitol Market Restraints
Availability of Alternative Sweeteners
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The global mannitol market is highly competitive with the presence of several players. The market players are focusing on developing new applications of mannitol and expanding their product portfolio. Additionally, some players are investing in research and development activities to develop new applications of mannitol and improve its properties.
Mannitol Market Top Player’s Company Profiles
Mannitol Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our mannitol market analysis, we found that the Mannitol market is the industry that is expected to benefit from a growing population, a more dynamic lifestyle, and an increase in certain diseases across different geographies. This product is used as an excipient in the pharmaceutical business to develop pharmaceutical goods as well as to treat kidney, brain, and heart problems. Furthermore, it is employed as a bulking agent in tableting applications. Over the next eight years, such a tendency is expected to support mannitol market growth. Recent technological advances are being made to synthesize mannitol using less expensive raw materials. Production utilizing lactic acid bacteria is being innovated, which is predicted to boost yield while maintaining high purity quality.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 417.48 Million |
Market size value in 2031 | USD 754.70 Million |
Growth Rate | 6.8% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Million |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Mannitol Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mannitol Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mannitol Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mannitol Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
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Report ID: SQMIG30H2125